There are several options that consumers have to deal with their debt before considering bankruptcy. Declaring bankruptcy may be helpful in certain situations but it should always be used as a last resort. Depending on your level debt and self discipline, there are different options that you should consider.
Organize yourself
Contact your creditors directly and try to work out a payment plan. Try explaining to them the cause of your financial troubles, they may be understanding. Don’t wait until you have debt collectors calling you because that means your creditors have given your debt away to someone else which may or may not affect your credit. If you have secured debt like a home or car loan those objects may be repossessed until the full payment of the debt is received. If you foresee that you cannot make the payments on time, If possible, the best way to avoid this is sell the car or house and pay off the loan before the amount builds up more than you can handle.

Work with credit counselors
If you cannot organize your finances on your own there are organizations out there to help people with these exact problems. They usually offer services online or on the phone. They can help advise you on managing your debts and money, develop a budget and offer free educational materials.Enroll in a debt management plan
Debt management plans or DMPs are programs that work with your creditors and schedule timely regular monthly payments for you unsecured debt. In exchange for inactivation of the accounts or credit cards the creditors may lower interest rates or fees. These are not for everyone though. If you fail to make a payment while enrolled in one of these programs it may affect your credit even worse.File for bankruptcy
This should be done only as a last resort. The results of this are long lasting and can stay on your credit report for up to 10 years. This can make it almost impossible to buy a house or car or even get a job. But if it is your only option, it is an option.

The year set a record for property foreclosures in the U.S. The number was 2,871,891 property foreclosures. That is an astounding 23% increase from 2008. And they said things were getting better?

Statistics, by RealtyTrac:

2.23% of all housing units received at least 1 foreclosure filing in 2010

December recorded 257,747 foreclosure filings on US properties – a decrease of about 2% from November and 26% from last year in December.

Nevada ranked in as the state with the highest foreclosure rate in the country for the 4th year in a row; Arizona being the 2nd highest for the second year in a row.

California, Florida, Illinois, Michigan, and Arizona made up 51% of the country’s total foreclosure activity in 2010.

Another interesting thing to point out that happened in 2010 concerns credit scores and credit card debt. The average credit scores of US consumers fell by 1 point since last year, but the credit card debt also fell by 8% to about $7,000. Credit card companies would be pleased to know that by the end of 2010, Did US consumers begin to make payments for their debts and thus stabilize their credit scores or was more debt just written off?

It turned out that six cities in the US experienced a greater decline in credit scores than the average of the rest of the nation. For instance, Chicago, Houston, and New York City had a 2-point drop. Los Angeles and San Francisco had a 3-point drop. Philadelphia had a 4-point drop. Are these the cities with high unemployment one might wonder.

If you live in Massachusetts or New Jersey, keep up the good work. These states have the highest national credit scores, averaging 686. However, Alabama, Arkansas, Kentucky, Louisiana, Oklahoma, and South Carolina have an average score of 650 or lower.

All of these statistics points to one thing. Businesses and Consumers alike are picking and choosing who they will pay and when they will pay. If someone owes you money become the squeaky wheel! Those who sit back and wait will do just that..they will wait and wait and wait to get paid what is owed to them. Picture your customer sitting in front of their desk with a one foot high pile of bills to be paid and a 6 inch pile of money to pay . A decision is made as to who will get paid. Make sure it is you!

1. Control your image. This not only includes your clothing style but your self image as well. You should always dress appropriately for your job. You should have self confidence in the work you are doing and believe that you can accomplish the job at hand.

2. Communicate Effectively. Listen actively to understand what you are being told. When you are speaking, speak clearly. Avoid negativity and pay attention to yours and others body language. Be sure to show interest.

4. Maintain Integrity and Digression. Practice ethical behavior and use your common sense. Do not take credit for others work or pretend to know something when you don’t. Do not lie you want to be trustworthy. Be discreet about what you say and who you say it to.

5. Learn From Mistakes. It is okay to admit your faults and let it go. Do not blame others. Be rational and do not make false assumptions. If you do not know something it is okay.

6. Adjust to Change. Technology and organizational functions are constantly changing. Be flexible and accepting of change.

7. Manage your Time. Planning, prioritizing, and getting organized is a good tool to stay on track and to avoid wasting time. Do not take too long to take advantage of a good opportunity.

With the growth of a global economy, more and more companies are able to advertise and sell their products and services in other countries as well as their own. Global economies also lead to the expansion of debt collections into foreign countries. When doing business in a different country, you need experience and knowledge of the countries government and laws, trade restrictions and requirements, and the differing currencies and credit reporting criteria.

Debt Collection Agencies collecting from or for companies outside the United States need to consider a few factors:

1. Language – Working with people from different countries often presents a language barrier. It is important to have a translator for communication.

2. Time Zones – Working across time zones presents communication challenges and time constraints regarding when you can talk with someone in the opposite time zone.

3. Foreign Partner Relationships – Gaining the cooperation and a positive attitude while working with a foreign country will build a quality relationship between the client, collection agency, and debtor.

4. Laws – It is important for a debt collection agency to understand their country’s laws and the other country’s laws and policies regarding credit, collection, and the court systems.

At Butler Robbins & White Global Revenue Recovery, we are able to collect foreign debt with our unique research. We may be able to transfer a judgment to a foreign country. We are sensitive to the different cultures we work with and offer an extended arm, so companies are able to interconnect with the United States.